The Pakistan Stock Exchange (PSX) experienced continued strong buying activity on Monday, pushing the benchmark KSE-100 index above 103,000 for the first time.

According to the PSX website, the KSE-100 index closed at 103,274.95 points as compared to 101,357.32 points on the last trading day. It gained 1,917.63 points, a positive change of 1.89 per cent.

A total of 1,556,252,523 shares were traded during the day as compared to 915,509,804 shares the previous trading day, whereas the price of shares stood at Rs47.097billion against Rs35.978 billion on the last trading day.

As many as 462 companies transacted their shares in the stock market, 339 of them recorded gains and 85 sustained losses, whereas the share price of 38 companies remained unchanged.

This upward trend reflects positive market sentiment driven by several factors: relative stability in the exchange rate, the anticipated transition to a new, longer-term agreement with the International Monetary Fund (IMF), improved earnings in key sectors, and a general increase in investor confidence following recent monetary easing measures.

Strong buying was observed across major sectors, including automobiles, cement, banking, fertilizers, oil and gas exploration, and refineries. Several large-cap stocks contributed significantly to the gains.

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This latest surge builds on the previous week’s record-breaking performance, which saw the KSE-100 index surpass 100,000 for the first time, closing at a new all-time high of 101,357.32 points. This momentum is attributed to a combination of robust local investor interest and institutional support.

(With input from APP)